TAUCoin “Proof of Transaction” - features debate and bounty for 12 months

[tusherk800]

Hi imorpheus,
As you know near future quantum computer will be a great threat for today's cryptocurrency technology. Quantum computer could hack public key and also super fast for mining. what kind of protective measure or action have you taken for this future threat?
Thank you.

[spiker777]

You mention that the TAU foundation will be swapping 60,000 TAU per swap during Tau-X, can you confirm the exchange rate these will be swapped at?

I see great potential for this coin, it just needs to get some actual utility rather than just being a coin.

[jmlimaa]

I would like to suggest that the work I have tried to start with the translations has been expanded. Expanded to a possible translation of the site, and even the white paper in the main languages. Today, I can not find anything even talking about the TAU in my language, and I believe that the lack of translations mainly on the site discourages some potential users, like Japanese and Russians for example.

[imorpheus]

-Since we are at stage moving fast on content and ideas, it is very hard to maintain multiple language site. I think for the meantime, let’s just let community to translate and publish on each one server or social media. Then google can always help to find them. Thanks for your suggestion.
-We do not define exchange rate. That is community collective decision. Welcome to raise ideas on how to use TAU, we in fact will invest into nice ideas.
-I happen to be good at physics. I do not believe quantum computing is any where close. The noise on the earth will contaminate quantum entanglement. You just can never read signal as observer brings in too much noise.
-Violin8, thank you for the analysis, i keep that in my notes. In all security concerns, the most I am concerned is the “censorship on transctions once achieving 51%”. Soon or later, crypto world will face a real war against fiat super power, who does not care about economics. They can just do not allow anyone else to make transactions. POW is super secure whiling consuming entire USA electricity, but not possible to resist super power censorship at all, due to off-chain competition nature cause power could always hide themself behind infinite address.That is why POW is not the future of crypto.
POS and POT has potential, but POT is more scientific to be censorship resisit. If you are interested in exploring security and attack of TAU, welcome you to join our whitepaper writing. You just simply annouce, we will include you in.

[genie854]

Hello everyone,

As the first author of TAU White Paper, I'd like to introduce several new features in the latest version (v0.4), which will soon appear on our website. Suggestions and opinions are welcome.

• Epoch is groups of blocks that ends with a checkpoint. No roll back is allowed beyond checkpoint that has certain age (currently 1 epoch). This can help to stop double spend attack.
• Mining power, mining club delegation, block reward are all calculated on epoch level, after checkpoint is finalized. This reduces node's computation load by avoiding large scale roll back on mining power and reward.
• Reward clipping mechanism stops abusive transactions to make any profit. The clipped reward is transferred into a "reward pool", which gives "coinbase"-like block reward for mining club leader.
• Epoch rotation significantly reduces the possibility of super power attack that can cause block denial and transaction censorship. Address that participates in mining has cooldown period after every epoch.

[imorpheus]

For DEV: will you fund as well btc value on the pool or solely taucoin? I think liquidity is also needed just in case no btc investment during the first day of tauX but Im betting there would be.  Also, how it is working, is it like bancor? Direct swap? Im really intrigued how the exchange platform will work. But already seen some sneak peek on discord but trying it is much better. 

Tau Foundation will not participate swapping other than 60,000 TAU per swap. In fact, this is not even necessary given current momentum. Plus why 60,000, that is hard to justify. Since the new whitepaper, we are likely to be the next currency, why should we sell at all. If there is no BTC, the TAU pool will piling to be very attractive for fans to grab it. The swap is currency centralized swap, since we are expecting huge volumn.
For ERC20 TAUT, i am more incline to not doing TAUT by foundation. It seems more like an startup opportunity for community member. It is kind of unfair for foundation to run TAU-T, since we are huge supply at lower cost than market. Any linkage from low cost TAU to market by foundation seems very dangerous to me now.
What do you think?

[slaman29]

I'm in a mood for getting a couple more alt projects under my radar and eyeing them. Now we have seen many coins try to tackle this problem of mining arms race but so far none have succeeded (in terms of price which I guess while is not a success indicator normally, has become the point that decides whether projects continue or die).

Need more information on this "allowing" miners to make multiple blocks during high transaction volume. Instead of allowing a single miner/node to make multiple blocks, why not have an algorithm that detects the high tx volume and then adjusts the difficulty or adjust the block time, so that it also encourages easier mining as usage increases? I know it's a dumb idea if you consider spamming networks could artificially do this but there are preventive mechanisms for that.

[genie854]

Need more information on this "allowing" miners to make multiple blocks during high transaction volume. Instead of allowing a single miner/node to make multiple blocks, why not have an algorithm that detects the high tx volume and then adjusts the difficulty or adjust the block time, so that it also encourages easier mining as usage increases? I know it's a dumb idea if you consider spamming networks could artificially do this but there are preventive mechanisms for that.

I would also prefer adjusting block size or difficulty when transaction volume is high. Transaction volume, block size limit, difficulty can be written into consensus with relative ease.

But consecutive blocks by one node has its advantage of reducing hand-over (propagation and verification) time. This could be a better solution if a fair and easily verifiable consensus algorithm is found. EOS and other BFT based approaches let one node produce consecutive blocks. Their blockchain is permissioned and block generating nodes are known in advance.

[imorpheus]

... building taucoin massive community out there. However, what I don't like is the referral system being conducted as of the moment. The purpose of the referral system is to disseminate the projects objective by rewarding them through their help. Agree! But, some people abuse it and clearly using fake accounts and multiple signup just to acquire taucoin. Meaning to say, its not the community that grow on that process, hence the coins of the greedy people who are not helping the project but himself. I'm not suggesting to remove it cause it's clearly helpful and I'm not on any position to order that. Hope you can think of some other way on how to market them in a clean way. .....

Thanks, i am thinking this issue every day in fact. Google and facebook has done amzing job recently to get rid of bots, i think they are 5% fake rate which is still acceptable to us. We are monitoring that closely.
In terms of counting method. This morning we annouce the daily 5m maximum for sign-on. Our program will auto adjust referral bonus in few days.

[imorpheus]

Need more information on this "allowing" miners to make multiple blocks during high transaction volume. Instead of allowing a single miner/node to make multiple blocks, why not have an algorithm that detects the high tx volume and then adjusts the difficulty or adjust the block time, so that it also encourages easier mining as usage increases? I know it's a dumb idea if you consider spamming networks could artificially do this but there are preventive mechanisms for that.

I would also prefer adjusting block size or difficulty when transaction volume is high. Transaction volume, block size limit, difficulty can be written into consensus with relative ease.

But consecutive blocks by one node has its advantage of reducing hand-over (propagation and verification) time. This could be a better solution if a fair and easily verifiable consensus algorithm is found. EOS and other BFT based approaches let one node produce consecutive blocks. Their blockchain is permissioned and block generating nodes are known in advance.

The ideal plan is to make all mining mobile, so that difficulty kind of adjustment is not nice option. Once the offchain arms race starts, cell phone can not compete. Blocktime adjustment seems to be likely to done via hardfork, when many miner feels that 1 min is too long, then hardfork will appear. Adjustable blocksize is currently implemented in plan through multiple blocks such as eos. I think this is a safe bet for now. Looking forward to hear more.

[genie854]

The ideal plan is to make all mining mobile, so that difficulty kind of adjustment is not nice option. Once the offchain arms race starts, cell phone can not compete. Blocktime adjustment seems to be likely to done via hardfork, when many miner feels that 1 min is too long, then hardfork will appear. Adjustable blocksize is currently implemented in plan through multiple blocks such as eos. I think this is a safe bet for now. Looking forward to hear more.

Difficulty adjustment only changes expected block time (base target in NXT), it doesn't lead to arms race. Block time change doesn't have to be hard fork, it can be achieved through difficulty adjustment.

For block size, what is the advantage of multiple blocks over one large block?

[BusWay18]

What's different lpos with tpos? I have only figured of that one different is tpos u need join mining club' without using your balance (every transaction you made Will increase your balance) and lpos need leasing their balance for joining node (balance will change it to power)...is there any different thing in detail ...

[imorpheus]

There are significant consensus level pro and cons in lpos, tpos, pot. I would advise you to read our whitepaper v0.4 for much detail. POT is closer in gene to POS than POW. However, POT is different from POS in terms of value on circulation than hoarding. Because of the same reason, POT is more censorship resisitant than POS when 51% attack happenning.

[mangsitin]

Yes, in my opinion, it is good information for Bounty and airdrop lovers like me that TAUCOIN held a gift distribution for bounty hunters and airdrop for 12 months. Let's use it to save TAUCOIN in our Wallet, who knows later it will be valuable as time goes by. We must think positively in everything.

[zityx23]

I am really a newbie on this thing and so far I need to clarify things. I haven't seen tps average anywhere here. Does it mean that the tau blockchain has not included it amongst to be criticizedor it is not relevant since it is POT? I think there are many coins out there who are also taking time to increase tps to allow faster and more convenient ways of dealing with personal and other matters. Second is that transaction power would be overloaded over time due to a more frequent transactions especially when it's high time to include taucoin in other exchanges thus increasing its fee. There was a time when i had too many small transactions in my account that it is not counted already. I read in the whitepaper about iTAU and i think it's great. Third it could be said that mining club leaders have the advantage for the distribution of coins per transactions. Also, regarding the Telegram bounty for communities, the owner of the group has the capacity to involve or not involve the rest of the community in its designated reward distribution. With regards to application of protocols and programs, I wish the devs have planned in advanced what courses to take especially that they have chosen POT as consensus mechanism over POW,POS and others. not that I think about involving the community is a bad idea but truth is, most of the time, without solid future plans, it slows the progress no matter how great the team is. Maybe we could also update the roadmap, shoud I say? And lastly mass adoption will require a lot of partnerships from big and small companies and entrepreneurs. A p2p-like transaction would be good example or a good start and these prospects in today's genaration are generally pointed towards the young people and young adults with exposure to their common interests like online shopping, gaming, ebooks, shared apps, music and video downloading, and other economic and societal and most especially governmental operations.

[Pab]

How will ERC-20 tokens be associated with TAUcoin owners?
How will they be distributed and participate in the community?

Love raising questions. Regarding support third party exchanges without infliction, mentioned in “plan”.
There are more than 3000 exchanges. The best way to make them support TAU coin is to create a ERC20 compatible token that is linked to TAU native coin such as USDT linking USD notes. We call this TAUT.
TAU foundation will lockup a portion of TAU native such as 100 million, then issue 100 million TAUT on ERC20; at the same time, the TAU exchange will support an automatic swap program to allow TAUT holders to swap with TAU holders.
With this all the ERC 20 ready wallets and exchange can use and trade TAU.

Very interesting.Create your own stable coin is simply genius idea
Finally some innovative project
will look that later because is very late in my place

[antonhuda]

A project that is able to provide good opportunities in the campaign, in this case, there are certainly many who are interested and within 12 months, is a good enough time to get it.

[Pab]

Is it really possible that taucoin can smoothly mine through mobile phone? I know that taucoin is built on an eco friendly system to mine taucoin but there are probably inconsistencies that arise from it. If you knew ETN, or electroneum, I was excited before when they announced the first ever mobile mining that will be launch via their blockchain but the app always crashed. I'm not sure about now if they pulled it off but using a PoW protocol there will be lag and error that will come out since they are utilizing a mechanism that needed great power to run. What is the effect of POT on mobile mining when run in test altready?. Or this is just hypothetical yet? As I can see only 13 people can only mine via a desktop and a definite application. How you plan to launch this? Via app?

Proof of transaction is different then POW
I remember dogecoin devs were thinking about it
You don|t need to use heavy hash for coin mining
It is really cool that there are some devs who want to explore that area

[genie854]

Is it really possible that taucoin can smoothly mine through mobile phone? I know that taucoin is built on an eco friendly system to mine taucoin but there are probably inconsistencies that arise from it. If you knew ETN, or electroneum, I was excited before when they announced the first ever mobile mining that will be launch via their blockchain but the app always crashed. I'm not sure about now if they pulled it off but using a PoW protocol there will be lag and error that will come out since they are utilizing a mechanism that needed great power to run. What is the effect of POT on mobile mining when run in test altready?. Or this is just hypothetical yet? As I can see only 13 people can only mine via a desktop and a definite application. How you plan to launch this? Via app?

I totally agree with your concern. Our dev team is working on TAU-X right now. Mobile mining through APP is our plan. We will certainly test thoroughly before launching.

Compute power (although TAU is very low on this), p2p communication, power consumption (battery) are some major concerns for mobile mining.

[genie854]

I am really a newbie on this thing and so far I need to clarify things. I haven't seen tps average anywhere here. Does it mean that the tau blockchain has not included it amongst to be criticizedor it is not relevant since it is POT? I think there are many coins out there who are also taking time to increase tps to allow faster and more convenient ways of dealing with personal and other matters. Second is that transaction power would be overloaded over time due to a more frequent transactions especially when it's high time to include taucoin in other exchanges thus increasing its fee. There was a time when i had too many small transactions in my account that it is not counted already. I read in the whitepaper about iTAU and i think it's great. Third it could be said that mining club leaders have the advantage for the distribution of coins per transactions. Also, regarding the Telegram bounty for communities, the owner of the group has the capacity to involve or not involve the rest of the community in its designated reward distribution. With regards to application of protocols and programs, I wish the devs have planned in advanced what courses to take especially that they have chosen POT as consensus mechanism over POW,POS and others. not that I think about involving the community is a bad idea but truth is, most of the time, without solid future plans, it slows the progress no matter how great the team is. Maybe we could also update the roadmap, shoud I say? And lastly mass adoption will require a lot of partnerships from big and small companies and entrepreneurs. A p2p-like transaction would be good example or a good start and these prospects in today's genaration are generally pointed towards the young people and young adults with exposure to their common interests like online shopping, gaming, ebooks, shared apps, music and video downloading, and other economic and societal and most especially governmental operations.

TPS is actually seriously considered in TAU. Our current client version supports transaction volume up to about 4000 per block, or 67 per second. As you said, transaction volume will grow after TAU-X and other exchange come into the game. White paper v0.4 has outlined some solutions to this, in Chapter 7 Section "Scalability". The basic idea is that transaction volume/fee increase can be detected and written into block header, so that block size or block time can be adjusted when needed.

And yes, business participation is important. TAU has start-up bounty for this purpose.